Flywire Corporation (FLYW) – What Are Investment Firms Saying About This Stock?

Flywire Corporation (NASDAQ:FLYW) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.46.

FLYW has been the subject of several recent research reports. Zacks Research cut Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. BTIG Research restated a “buy” rating on shares of Flywire in a research note on Thursday, September 10th. The Goldman Sachs Group restated a “neutral” rating and set a $22.00 price objective on shares of Flywire in a research note on Wednesday, August 5th. Weiss Ratings raised Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Finally, Seaport Research Partners reiterated a “buy” rating and set a $22.00 target price on shares of Flywire in a research report on Monday, August 17th.

Flywire Stock Up 1.9%

Shares of NASDAQ:FLYW opened at $19.29 on Friday. The company’s 50 day moving average price is $18.28 and its two-hundred day moving average price is $15.50. Flywire has a 12-month low of $10.55 and a 12-month high of $19.73. The firm has a market cap of $2.35 billion, a PE ratio of 74.20, a PEG ratio of 1.21 and a beta of 1.35.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, research analysts expect that Flywire will post 0.40 EPS for the current year.

Insider Buying and Selling

In related news, insider David King sold 36,900 shares of the business’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total value of $676,008.00. Following the completion of the transaction, the insider owned 202,404 shares of the company’s stock, valued at $3,708,041.28. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the sale, the insider directly owned 369,168 shares of the company’s stock, valued at $7,084,333.92. This represents a 31.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 592,618 shares of company stock worth $11,230,341. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after purchasing an additional 64,998 shares in the last quarter. Jennison Associates LLC lifted its stake in Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after purchasing an additional 878,248 shares during the last quarter. Wasatch Advisors LP bought a new stake in Flywire during the second quarter worth $44,026,000. Dimensional Fund Advisors LP lifted its stake in Flywire by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock worth $21,962,000 after purchasing an additional 295,960 shares during the last quarter. Finally, One Way Holdings LLC boosted its holdings in shares of Flywire by 7.2% in the 3rd quarter. One Way Holdings LLC now owns 1,131,863 shares of the company’s stock valued at $19,808,000 after purchasing an additional 76,310 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.